Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for Red Herring, Internet World, Beyond Computing, Accounting Technology and PC Magazine, and freelanced for a variety of other business publications. A graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in New York City.
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A short window won't necessarily stop lawmakers from proposing or introducing new legislation, though — if only to position themselves ahead of next November's election.
November 27 -
The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.
November 21 -
The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.
November 20 -
The ultra-wealthy are using DAFs and private foundations to avoid taxes and exert influence, at the expense of ordinary taxpayers.
November 16 -
Thanks to the lower threshold, the service expects to receive about 44 million 1099-Ks in 2024, up from about 14 million.
November 16 -
Nepsis, a Minneapolis-based financial advisory and investment management firm, has acquired Sevenich, Butler, Gerlach, & Brazil, a tax, accounting and consulting firm in Saint Paul, Minnesota.
November 16 -
Commissioner Danny Werfel and Taxpayer Advocate Erin Collins discussed the enhancements the IRS has been making thanks to the additional billions of dollars of funding.
November 14 -
The service announced its annual inflation adjustments, including increases in the standard deduction and changes in tax brackets.
November 9 -
The Treasury secretary addressed a group of service employees as the agency fends off cuts pushed by House Republicans.
November 7 -
Taxpayers will now have through Jan. 10, 2025, to fix a refund claim.
November 1
